Jiayin Group (NASDAQ:JFIN) Stock Price Breaks Above 50-Day Moving Average – What’s Next?

Shares of Jiayin Group Inc. Sponsored ADR (NASDAQ:JFIN) crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $1.56 and traded as high as $1.8799. Jiayin Group shares last traded at $1.72, with a volume of 10,899,209 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Jiayin Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Jiayin Group has an average rating of “Sell”.

Jiayin Group Stock Down 5.8%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.79 and a current ratio of 1.79. The company has a fifty day simple moving average of $1.55 and a two-hundred day simple moving average of $3.79. The firm has a market capitalization of $84.77 million, a PE ratio of 2.53 and a beta of 0.90.

Jiayin Group (NASDAQ:JFIN) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.52) earnings per share for the quarter. Jiayin Group had a return on equity of 5.02% and a net margin of 5.39%. The business had revenue of $108.46 million during the quarter.

Hedge Funds Weigh In On Jiayin Group

Several institutional investors have recently bought and sold shares of JFIN. Ramsey Quantitative Systems bought a new stake in Jiayin Group during the 2nd quarter valued at $118,000. Militia Capital Management LLC bought a new position in shares of Jiayin Group in the 1st quarter worth $215,000. Renaissance Technologies LLC lifted its position in shares of Jiayin Group by 10.2% during the first quarter. Renaissance Technologies LLC now owns 132,300 shares of the company’s stock valued at $554,000 after buying an additional 12,300 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Jiayin Group by 44.4% during the first quarter. Dimensional Fund Advisors LP now owns 124,580 shares of the company’s stock valued at $524,000 after acquiring an additional 38,300 shares during the last quarter. Finally, Leonteq Securities AG purchased a new position in Jiayin Group in the first quarter worth $63,000. 44.08% of the stock is owned by hedge funds and other institutional investors.

Jiayin Group Company Profile

Jiayin Group Inc (NASDAQ: JFIN) is a China-based financial technology company that operates an online consumer finance platform. The company uses digital technologies, data analysis and risk-management tools to facilitate access to personal loans for individual borrowers, particularly customers who may be underserved by traditional financial institutions.

Jiayin’s platform connects borrowers with funding sources, including institutional investors and other financing partners. Its services generally include borrower acquisition, credit assessment, loan matching and facilitation, as well as post-loan servicing and collection support.